RIYADH: Demand for green energy is still bright; nevertheless, volatility still exists today due to government policies in countries like China and other uncontrolled factors such as weather conditions.
Looking at the Bigger Picture:
- Green hydrogen prices are projected to plunge by almost 75 percent by 2030 as the production of electrolyzes – the fundamental technology behind green hydrogen – swiftly increases. The emergence of green hydrogen projects in the near future is expected to undercut blue hydrogen projects, hence adversely affecting investors who choose to spend significant amounts on the latter.
- US natural gas stocks shrug off by 2.2 percent after three-week peak due to warmer weather and lower demand forecasts respectively, according to Reuters. This comes as the prices are volatile due to fluctuations in the weather. When it’s cold, the market surges and when it gets warmer, the market soothes.
- UK moves from energy supplier crisis to cost of living crisis as gas and electricity suppliers warn of increasing costs that are projected to last until 2023, the Financial times reported. Government intervention is required to smooth the large increase over a larger period of time so that consumers do not suffer.
Through a micro lens:
- China’s Risen Energy Co. – developer, manufacturer, and supplier of photovoltaic applications – to invest $7 billion (45 billion yuan) in a solar power plant in northern China that will run on clean energy, Bloomberg reported. The factory aims to deliver various resources across the supply chain from industrial silicon to complete solar units.
- China receives backlash for endorsement of a new vast coal power plant as countries worldwide are trying to limit the emission of greenhouse gases, Reuters reported. Guodian Power Shanghaimiao Corporation – the operator of the plant- argues that the factory entails low rates of coal and water consumption due to efficient technology.
- Several US based institutions – including startup Francis Energy – collaborate in an attempt to boost demand for electric vehicles in rural areas by expanding the accessibility of EVs charging stations, the Wall Street Journal reported.